Sec Form 13G Filing - EJF Capital LLC filing for PCB BANCORP (PCB) - 2022-02-25

Insider filing report for Changes in Beneficial Ownership

  • Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
  • Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 3)


PCB Bancorp
(Name of Issuer)
Common Stock, no par value per share
(Title of Class of Securities)
69320M109
(CUSIP Number)

December 31, 2021
(Date of Event which Requires Filing of this Statement)


Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).



CUSIP No. 69320M109
13G
 

1
NAMES OF REPORTING PERSONS
 
 
EJF Capital LLC
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
   
(a)
   
(b)☒
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
Delaware
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5
SOLE VOTING POWER
 
 
0
 
 
 
 
6
SHARED VOTING POWER
 
 
1,442,638
 
 
 
 
7
SOLE DISPOSITIVE POWER
 
 
0
 
 
 
 
8
SHARED DISPOSITIVE POWER
 
 
1,442,638
 
 
 
 
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
1,442,638
 
 
 
 
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
 
 
 
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
 
9.7% (1)
 
 
 
 
12
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
IA
 
 
 
 

 (1)
Based on 14,865,825 shares of common stock, no par value per share (“Common Stock”) outstanding as of December 31, 2021, as disclosed in the Issuer’s Form 8-K filed with the U.S. Securities and Exchange Commission (“SEC”) on January 27, 2022.



CUSIP No. 69320M109
13G
 

1
NAMES OF REPORTING PERSONS
 
 
Emanuel J. Friedman
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
   
(a)
   
(b)☒
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
United States
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5
SOLE VOTING POWER
 
 
0
 
 
 
 
6
SHARED VOTING POWER
 
 
1,442,638
 
 
 
 
7
SOLE DISPOSITIVE POWER
 
 
0
 
 
 
 
8
SHARED DISPOSITIVE POWER
 
 
1,442,638
 
 
 
 
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
1,442,638
 
 
 
 
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
 
 
 
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
 
9.7% (1)
 
 
 
 
12
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
IN
 
 
 
 

 (1)
Based on 14,865,825 shares of Common Stock outstanding as of December 31, 2021, as disclosed in the Issuer’s Form 8-K filed with the SEC on January 27, 2022.



CUSIP No. 69320M109
13G
 

1
NAMES OF REPORTING PERSONS
 
 
EJF Debt Opportunities Master Fund, L.P.
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
   
(a)
   
(b)☒
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
Cayman Islands
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5
SOLE VOTING POWER
 
 
0
 
 
 
 
< /td>
6
SHARED VOTING POWER
 
 
961,542
 
 
 
 
7
SOLE DISPOSITIVE POWER
 
 
0
 
 
 
 
8
SHARED DISPOSITIVE POWER
 
 
961,542
 
 
 
 
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
961,542
 
 
 
 
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
 
 
 
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
 
6.5% (1)
 
 
 
 
12
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
PN
 
 
 
 

 (1)
Based on 14,865,825 shares of Common Stock outstanding as of December 31, 2021, as disclosed in the Issuer’s Form 8-K filed with the SEC on January 27, 2022.



CUSIP No. 69320M109
13G
 

1
NAMES OF REPORTING PERSONS
 
 
EJF Debt Opportunities GP, LLC
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
   
(a)
   
(b)☒
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
Delaware
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5
SOLE VOTING POWER
 
 
0
 
 
 
 
6
SHARED VOTING POWER
 
 
961,542
 
 
 
 
7
SOLE DISPOSITIVE POWER
 
 
0
 
 
 
 
8
SHARED DISPOSITIVE POWER
 
 
961,542
 
 
 
 
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
961,542
 
 
 
 
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
 
 
 
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
 
6.5% (1)
 
 
 
 
12
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
OO
 
 
 
 

 (1)
Based on 14,865,825 shares of Common Stock outstanding as of December 31, 2021, as disclosed in the Issuer’s Form 8-K filed with the SEC on January 27, 2022.



CUSIP No. 69320M109
13G
 

1
NAMES OF REPORTING PERSONS
 
 
EJF Debt Opportunities Master Fund II, LP
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
   
(a)
   
(b)☒
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
Cayman Islands
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5
SOLE VOTING POWER
 
 
0
 
 
 
 
6
SHARED VOTING POWER
 
 
0
 
 
 
 
7
SOLE DISPOSITIVE POWER
 
 
0
 
 
 
 
8
SHARED DISPOSITIVE POWER
 
 
0
 
 
 
 
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
0
 
 
 
 
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
 
 
 
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
 
0%
 
 
 
 
12
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
PN
 
 
 
 




CUSIP No. 69320M109
13G
 

1
NAMES OF REPORTING PERSONS
 
 
EJF Debt Opportunities II GP, LLC
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
   
(a)
   
(b)☒
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
Delaware
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5
SOLE VOTING POWER
 
 
0
 
 
 
 
6
SHARED VOTING POWER
 
 
0
 
 
 
 
7
SOLE DISPOSITIVE POWER
 
 
0
 
 
 
 
8
SHARED DISPOSITIVE POWER
 
 
0
 
 
 
 
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
0
 
 
 
 
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
 
 
 
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
 
0%
 
 
 
 
12
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
OO
 
 
 
 




CUSIP No. 69320M109
13G
 

1
NAMES OF REPORTING PERSONS
 
 
EJF Financial Services Fund, LP
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
   
(a)
   
(b)☒
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
Delaware
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5
SOLE VOTING POWER
 
 
0
 
 
 
 
6
SHARED VOTING POWER
 
 
288,998
 
 
 
 
7
SOLE DISPOSITIVE POWER
 
 
0
 
 
 
 
8
SHARED DISPOSITIVE POWER
 
 
288,998
 
 
 
 
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
288,998
 
 
 
 
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
 
 
 
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
 
1.9% (1)
 
 
 
 
12
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
IA
 
 
 
 

 (1)
Based on 14,865,825 shares of Common Stock oustanding as of December 31, 2021, as disclosed in the Issuer's Form 8-K filed with the SEC on January 27, 2022.



CUSIP No. 69320M109
13G
 

1
NAMES OF REPORTING PERSONS
 
 
EJF Financial Services GP, LLC
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
   
(a)
   
(b)☒
 
 
3
SEC USE ONLY
 
 
 
& #xA0;
 
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
Delaware
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5
SOLE VOTING POWER
 
 
0
 
 
 
 
6
SHARED VOTING POWER
 
 
288,998
 
 
 
 
7
SOLE DISPOSITIVE POWER
 
 
0
 
 
 
 
8
SHARED DISPOSITIVE POWER
 
 
288,998
 
 
 
 
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
288,998
 
 
 
 
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
 
 
 
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
 
1.9% (1)
 
 
 
 
12
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
IA
 
 
 
 

 (1)
Based on 14,865,825 shares of Common Stock oustanding as of December 31, 2021, as disclosed in the Issuer's Form 8-K filed with the SEC on January 27, 2022.



Item 1. (a)
Name of Issuer

PCB Bancorp

Item 1. (b)
Address of Issuer’s Principal Executive Offices

3701 Wilshire Boulevard, Suite 900
Los Angeles, CA  90010

Item 2. (a)
Name of Person Filing

This Amendment No. 3 to Schedule 13G is being filed on behalf of the following persons (the “Reporting Persons”)*:

(i)
 EJF Capital LLC;
(ii)
 Emanuel J. Friedman;
(iii)
 EJF Debt Opportunities Master Fund, L.P.;
(iv)
 EJF Debt Opportunities GP, LLC;
(v)
 EJF Debt Opportunities Master Fund II, LP;
(vi)
 EJF Debt Opportunities II GP, LLC;
(vii)
 EJF Financial Services Fund, LP; and
(viii)
 EJF Financial Services GP, LLC

*Attached as Exhibit A is a copy of an agreement among the Reporting Persons that this Amendment No. 3 to Schedule 13G is being filed on behalf of each of them

Item 2. (b)
Address of Principal Business Office or, if None, Residence

The address of the principal business office of each Reporting Person is:

2107 Wilson Boulevard
Suite 410
Arlington, VA 22201

Item 2. (c)
Citizenship

See Item 4 of the attached cover pages.
Item 2. (d)
Title of Class of Securities

Common Stock, no par value per share (“Common Stock”)

Item 2. (e)
CUSIP Number

69320M109





Item 3.
If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a:

Not Applicable.

Item 4.
Ownership
(a)
 Amount beneficially owned:
 

 
 See Item 9 of the attached cover pages.
 
 
(b)
 Percent of class:
 
 
   See Item 11 of the attached cover pages.
   
(c)
 Number of shares as to which such person has:
   
   (i)  Sole power to vote or to direct the vote:
     
     See Item 5 of the attached cover pages.
     
   (ii)  Shared power to vote or to direct the vote:
     
     See Item 6 of the attached cover pages.
     
   (iii)  Sole power to dispose or to direct the disposition:
     
     See Item 7 of the attached cover pages.
     
   (iv)  Shared power to dispose or to direct the disposition:
     
     See Item 8 of the attached cover pages.

Each of EJF Debt Opportunities Master Fund, L.P., EJF Debt Opportunities Master Fund II, LP and EJF Financial Services Fund, LP is the record owner of the shares of Common Stock shown on Item 9 of their respective cover pages.

EJF Debt Opportunities GP, LLC serves as the general partner of EJF Debt Opportunities Master Fund, L.P. and as investment manager of an affiliate thereof, and may be deemed to share beneficial ownership of the shares of Common Stock of which EJF Debt Opportunities Master Fund, L.P. is the record owner.  

EJF Debt Opportunities II GP, LLC serves as the general partner of EJF Debt Opportunities Master Fund II, LP and as investment manager of an affiliate thereof, and may be deemed to share beneficial ownership of the shares of Common Stock of which EJF Debt Opportunities Master Fund II, LP is the record owner.  


EJF Financial Services GP, LLC is the general partner of EJF Financial Services Fund, LP and an investment manager of certain affiliates thereof and may be deemed to share beneficial ownership of the shares of Common Stock of which EJF Financial Services Fund, LP is the record owner. 

EJF Capital LLC is the sole member of each of EJF Debt Opportunities GP, LLC, EJF Debt Opportunities II GP, LLC and EJF Financial Services GP, LLC and may be deemed to share beneficial ownership of the shares of Common Stock of which EJF Debt Opportunities GP, LLC, EJF Debt Opportunities II GP, LLC and EJF Financial Services GP, LLC may share beneficial ownership.  EJF Capital LLC also separately manages accounts holding shares of Common Stock and may be deemed to share beneficial ownership of the shares of Common Stock of which the managed accounts, in the aggregate, are the record owners. 

Emanuel J. Friedman is the controlling member of EJF Capital LLC and may be deemed to share beneficial ownership of the shares of Common Stock of which EJF Capital LLC may share beneficial ownership.
 
Item 5. Ownership of Five Percent or Less of a Class

Not Applicable.

Item 6. Ownership of More than Five Percent on Behalf of Another Person

Not Applicable.


Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company

Not Applicable.

Item 8.
Identification and Classification of Members of the Group

Not Applicable.

Item 9.
Notice of Dissolution of Group

Not Applicable.

Item 10.
Certification

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.


SIGNATURE


After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dated:  February 25, 2022
 
 
 
EJF CAPITAL LLC
 
 
 
By:
 /s/ David Bell
 
 
Name:
David Bell
 
 
Title:
General Counsel
 
 
 
 
EMANUEL J. FRIEDMAN
 
 
 
By:
 /s/ Emanuel J. Friedman
 
 
Name:
 Emanuel J. Friedman
 
 
 
 
EJF DEBT OPPORTUNITIES MASTER FUND, L.P.
 
 
 
By:
Its:
EJF DEBT OPPORTUNITIES GP, LLC
General Partner
 
 
 
By:
Its:
EJF CAPITAL LLC
Sole Member
 
 
 
By:
 /s/ David Bell
 
 
Name:
David Bell
 
 
Title:
General Counsel
 
 
 
 
EJF DEBT OPPORTUNITIES GP, LLC
 
 
 
By:
Its:
EJF CAPITAL LLC
Sole Member
 
 
 
By:
 /s/ David Bell
 
 
Name:
David Bell
 
 
Title:
General Counsel
 
 
 


 
EJF DEBT OPPORTUNITIES MASTER FUND II, LP
 
 
 
By:
Its:
EJF DEBT OPPORTUNITIES II GP, LLC
General Partner
 
 
 
By:
Its:
EJF CAPITAL LLC
Sole Member
 
 
 
By:
 /s/ David Bell
 
 
Name:
David Bell
 
 
Title:
General Counsel
 
 
 
 
EJF DEBT OPPORTUNITIES II GP, LLC
 
 
 
By:
Its:
EJF CAPITAL LLC
Sole Member
 
 
 
By:
 /s/ David Bell
 
 
Name:
David Bell
 
 
Title:
General Counsel
 
 
 
 
EJF FINANCIAL SERVICES FUND, LP
 
 
 
 
 
By:
Its:
EJF FINANCIAL SERVICES GP, LLC
General Partner
 
 
 
 
 
 
By:
EJF CAPITAL LLC
 
 
Its:
Sole Member
 
 
 
 
 
 
By:
/s/ David Bell
 
 
Name:
David Bell
 
 
Title:
General Counsel
 
 
 
 
EJF FINANCIAL SERVICES GP, LLC
 
 
 
 
 
By:
Its:
EJF CAPITAL LLC
Sole Member
 
 
 
 
 
 
By:
/s/ David Bell
 
 
Name:
David Bell
 
 
Title:
General Counsel
 
 

EXHIBIT A

The undersigned, EJF Capital LLC, a Delaware limited liability company, Emanuel J. Friedman, EJF Debt Opportunities Master Fund, L.P., an exempted limited partnership organized under the laws of the Cayman Islands, EJF Debt Opportunities GP, LLC, a Delaware limited liability company, EJF Debt Opportunities Master Fund II, LP, an exempted limited partnership organized under the laws of the Cayman Islands, EJF Debt Opportunities II GP, LLC, a Delaware limited liability company, EJF Financial Services Fund, LP, a Delaware limited partnership, and EJF Financial Services GP, LLC, a Delaware limited liability company, hereby agree and acknowledge that the information required by this Amendment No. 3 to Schedule 13G, to which this Agreement is attached as an exhibit, is filed on behalf of each of them.  The undersigned further agree that any further amendments or supplements thereto shall also be filed on behalf of each of them.
 
Dated:  February 25, 2022

 
EJF CAPITAL LLC
 
 
 
By:
 /s/ David Bell
 
 
Name:
David Bell
 
 
Title:
General Counsel
 
 
 
 
EMANUEL J. FRIEDMAN
 
 
 
By:
 /s/ Emanuel J. Friedman
 
 
Name:
 Emanuel J. Friedman
 
 
 
 
EJF DEBT OPPORTUNITIES MASTER FUND, L.P.
 
 
 
By:
Its:
EJF DEBT OPPORTUNITIES GP, LLC
General Partner
 
 
 
By:
Its:
EJF CAPITAL LLC
Sole Member
 
 
 
By:
 /s/ David Bell
 
 
Name:
David Bell
 
 
Title:
General Counsel
 
 
 
 
EJF DEBT OPPORTUNITIES GP, LLC
 
 
 
By:
Its:
EJF CAPITAL LLC
Sole Member
 
 
 
By:
 /s/ David Bell
 
 
Name:
David Bell
 
 
Title:
General Counsel
 
 
 


 
EJF DEBT OPPORTUNITIES MASTER FUND II, LP
 
 
 
By:
Its:
EJF DEBT OPPORTUNITIES II GP, LLC
General Partner
 
 
 
By:
Its:
EJF CAPITAL LLC
Sole Member
 
 
 
By:
 /s/ David Bell
 
 
Name:
David Bell
 
 
Title:
General Counsel
 
 
 
 
EJF DEBT OPPORTUNITIES II GP, LLC
 
 
 
By:
Its:
EJF CAPITAL LLC
Sole Member
 
 
 
By:
 /s/ David Bell
 
 
Name:
David Bell
 
 
Title:
General Counsel
 
 
 
 
EJF FINANCIAL SERVICES FUND, LP
 
 
 
 
 
By:
Its:
EJF FINANCIAL SERVICES GP, LLC
General Partner
 
 
 
 
 
 
By:
EJF CAPITAL LLC
 
 
Its:
Sole Member
 
 
 
 
 
 
By:
/s/ David Bell
 
 
Name:
David Bell
 
 
Title:
General Counsel
 
 
 
 
EJF FINANCIAL SERVICES GP, LLC
 
 
 
 
 
By:
Its:
EJF CAPITAL LLC
Sole Member
 
 
 
 
 
 
By:
/s/ David Bell
 
 
Name:
David Bell
 
 
Title:
General Counsel